Credit Agricole Ukraine results for the first quarter of 2026

In the first quarter of 2026, Credit Agricole Ukraine continued to operate within a challenging environment shaped by the ongoing war and increasing global instability. Despite these constraints, the Bank remains committed to its aim to invest in Ukraine’s recovery, moving forward to support its clients and maintain operational stability.

Macroeconomic landscape

The macroeconomic landscape remains complex, influenced by global volatility and domestic pressures. The first quarter of 2026 marked a shift in this landscape. Following the escalation of the conflict in the Middle East and the resulting surge in global energy prices, the National Bank of Ukraine has adopted a more cautious and prudent approach, maintaining the key policy rate at 15.0% with a flat trend until the end of 2026 under the baseline scenario. Inflation is projected to accelerate toward 10% by the end of the year, driven by both energy shocks and logistical constraints. The period of monetary easing has paused.

Bank Lviv purchase agreement 

Credit Agricole Ukraine has signed an agreement to acquire up to 100% of the share capital of Bank Lviv, an SME-focused Ukrainian bank headquartered in Lviv.

This acquisition will enable Credit Agricole Ukraine to strengthen its presence in the west of Ukraine while reinforcing its positioning in the SME and agricultural sectors.

The acquisition of Bank Lviv fully aligns with Credit Agricole Ukraine’s strategy to support the Ukrainian economy in the long term and its ambition to play a key role in the country’s reconstruction.

The transaction is subject to the usual condition precedents, including obtaining regulatory approvals from the National Bank of Ukraine and the Antimonopoly Committee of Ukraine, and is expected to be completed by mid-2026.

Steady business development

We continue to develop our core business lines, focusing on our priority directions:

• We maintain our second-place position in the car-lending market with a 28% share. During the first quarter of 2026, the bank demonstrated record-high sales by issuing UAH 1.3 billion in new loans (+52% YoY). Credit Agricole has 18 years of experience in automotive lending and operates in accordance with ISO 9001:2015 international quality standards. Customers receive financing and full support at every stage, from selecting the optimal program to signing the contract.
• As a leader in the automotive lending market, Credit Agricole has traditionally supported the “Car of the Year in Ukraine” campaign, which has been running for over 20 years now. It is a prestigious event in the automotive industry, during which new cars are presented and the best models are selected.
• The bank continues to build up its cash loan portfolio, growing it by 11 % compared to Q4 of 2025.
• Credit card portfolio also grew by 11% over December 2025, supported by the launch of the Digital Credit card at the end of 2025.
• As part of the National Cashback program, Credit Agricole Ukraine provides the service of receiving state compensation for purchasing fuel at gas stations starting in March 2026.

Portfolios and solid regulatory positions

• Year-to-date, the total loan portfolio remained stable, supported by growth in the private individuals segment (+10%) and the SME business segment (+4%).
• The bank’s total deposit portfolio continues to grow (+5% YTD) across all segments, confirming the high level of reliability and services quality recognized in the market.
• At the end of the first quarter of 2026, the bank has a strong capital position with CET1/Tier 1 ratios at 18.3% and the solvency ratio of 18.4%, significantly exceeding regulatory minimums. Liquidity remains at a high level, both in hryvnia and in foreign currency (LCR at 578% and NSFR at 255% versus the 100% regulatory requirement).

Rewards and results recognition 

• Credit Agricole is named winner in three nominations at the Main Financial Award of the Year by Association of Ukrainian Banks: “Customer Trust”, “Banking Support for Businesses”, and “Best Partner of the State”.
• Carlos de Cordoue, Chairman of the Management Board of Credit Agricole, received an award within “TOP CEOs of the financial market”, organized by Delo.ua and “TOP-100: Ratings of the largest” magazine. Also, Credit Agricole became the leader in the “Best Customer Service” nomination, and was named among the TOP-3 in the categories: “Best Deposit Line”, “Best Documentary Operations” and “Best Card Solution for Business”.
• Credit Agricole Ukraine was recognized as the best bank in trade finance according to the Euromoney 2026 survey of business customers.
• Credit Agricole placed first in the deposit reliability rating based on the results of 2025 published on 10.03.2026 by Standard-Rating. Also recently, Credit Agricole placed first in the Ukrainian Banks Resilience Rating research based on the results of Q4 of 2025 published on 26.02.2026 by Minfin portal.

Human Capital and Social Responsibility

Working under constant pressure requires focused efforts to build team resilience and social commitment.

The safety and well-being of our team remains our priority. In 2026, we will continue our support programs, including well-being initiatives for our colleagues and their families. For example, from the winter months through mid-April, each employee and their family could relax and recharge at a hotel in the west of Ukraine. 

Throughout March, Credit Agricole Ukraine, together with the international Credit Agricole Group, ran a series of events to promote a culture of diversity, a good tradition of our bank. The Credit Agricole Group consistently implements diversity policies and equal opportunities in all countries where it operates. In Ukraine, we share these values and implement them in our daily work. The Credit Agricole Charter of Equality has been in place for five years now. In 2024, the bank signed the Charter for Financial Inclusion and Reintegration of Veterans in Ukraine.

Credit Agricole continues to contribute to societal recovery through its large-sale CSR program “We Care!”, which celebrates its 10th anniversary this year. In March 2026, the fourth tranche of support for the Kyiv Regional Perinatal Center was transferred. Crédit Agricole Nord de France, a regional bank of Credit Agricole Group, funded the installation of the uninterruptible power supply batteries, amounting to nearly UAH 800 thousand. This project was completed in cooperation with “Your Support” Charity Fund. To date, the total support provided to the Kyiv Regional Perinatal Center exceeds UAH 50 million.

Financial Performance

The financial results for the first quarter of 2026 reflect growing revenue generation driven by commercial activity and cautious cost management:

• Net Banking Income (NBI): Reached UAH 2.4 billion, which is 12% higher than last year, primarily due to an increased weight of commercial assets
• Costs and Operational efficiency: Operating expenses remained under control at UAH 0.9 billion (+15% YoY). Gross Operating Income (GOI) stood at UAH 1.5 billion (+11% YoY)
• Risk Management: The Cost of Risk (CoR) amounted to UAH 134 million, reflecting both the growth in the loan portfolio and a prudent approach to provisioning for government bonds
• Net Profit: The Bank recorded a Net Result of UAH 0.7 billion

Annex 1
(UAH million)

Annex 2
(UAH million) 

 * Credit Agricole Bank’s Interim Financial Statements are elaborated according to IFRS. Additionally, the detailed quarterly financial statements will be published on the bank's website.